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Alcoa (AA) Gains As Market Dips: What You Should Know
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Alcoa (AA - Free Report) closed the most recent trading day at $82.89, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the bauxite, alumina and aluminum products company had gained 39.44% over the past month, outpacing the Industrial Products sector's loss of 3.58% and the S&P 500's loss of 4.24% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. The company is expected to report EPS of $2.47, up 212.66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.38 billion, up 17.75% from the year-ago period.
AA's full-year Zacks Consensus Estimates are calling for earnings of $8.03 per share and revenue of $13.09 billion. These results would represent year-over-year changes of +17.57% and +7.73%, respectively.
It is also important to note the recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 19.36% higher within the past month. Alcoa is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Alcoa's current valuation metrics, including its Forward P/E ratio of 10.28. This valuation marks a discount compared to its industry's average Forward P/E of 10.88.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.
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Alcoa (AA) Gains As Market Dips: What You Should Know
Alcoa (AA - Free Report) closed the most recent trading day at $82.89, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the bauxite, alumina and aluminum products company had gained 39.44% over the past month, outpacing the Industrial Products sector's loss of 3.58% and the S&P 500's loss of 4.24% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. The company is expected to report EPS of $2.47, up 212.66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.38 billion, up 17.75% from the year-ago period.
AA's full-year Zacks Consensus Estimates are calling for earnings of $8.03 per share and revenue of $13.09 billion. These results would represent year-over-year changes of +17.57% and +7.73%, respectively.
It is also important to note the recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 19.36% higher within the past month. Alcoa is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Alcoa's current valuation metrics, including its Forward P/E ratio of 10.28. This valuation marks a discount compared to its industry's average Forward P/E of 10.88.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.